Monday, 18 March 2013

RTI - 2 Weeks to go. Are you ready?

RTI applies to anyone who is registered for PAYE (or needs to be). This means:

YES - if you employ staff and any of them earn more that £109 per week in 2013/14.

YES - if you do your work through a limited company (assuming you pay yourself a salary or reimburse expenses).

NO - if you are a sole trader or partnership and don't employ anyone.

What does it involve?
RTI or Real Time Information is the new way to report wages, salaries, PAYE and National Insurance to HMRC. Traditionally, PAYE data would be submitted at the end of the tax year, but the new regulations require the data to be submitted electronically to HMRC online whenever employees get paid.

Get sorted for RTI
If you need help with your payroll or you don't think your current payroll software is not compatible with RTI then contact Bookkeeping4u. We have various payment options and can submit you RTI data to HMRC for you. all our software and staff are ready for RTI submissions now.